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TransCanada eager for renewed Keystone push in Senate

The CEO of TransCanada, Russ Girling, said the pipeline developer is ready to work with the new GOP majority to “break the gridlock on Keystone [XL]."

“After six years, it is time to break the gridlock on Keystone and move forward,” Girling said in an emailed statement on Wednesday.

Environmentalists and a majority of Democrats oppose the controversial Canada-to-Texas pipeline, arguing it will undermine the president's climate agenda, and increase greenhouse gas emissions.

Republicans and pro-fossil-fuel Democrats point to the multiple environmental impact studies from the State Department, which found the pipeline would not significantly increase emissions.

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“We will work with legislators who want to support a privately funded project that employs 42,000 Americans, invests $2 billion in wages across the United States and injects $3.4 billion into the U.S. economy,” he added.

Republicans won control of the Senate on Tuesday night, picking up seven seats and amassing enough pro-pipeline votes to pass legislation approving the project. The pipeline needs President Obama's approval to cross international borders, but he has repeatedly put off issuing a final decision. Supporters believe Congress can bypass the president legislatively.

After snagging seats in South Dakota, West Virginia, Colorado, and Iowa, the vote count for Keystone ballooned to 61.

Before Tuesday’s election, Keystone backers had 57 votes in the Senate.

After gaining enough seats for a majority, and news of a possible path forward for Keystone XL spread, shares of TransCanada rose 3 percent.

A majority of energy stocks rose after the GOP victory, Reuters reported.

“Our Canadian and American shippers remain solidly behind Keystone XL — their support has not wavered over the past six years,” Girling said Wednesday. “We do feel for Americans who will ultimately bear the negative impacts of continuous project delays and rising costs.”